http://www.chinaeconomicreview.com/realestate/2008/10/24/chill-in-the-real-estate-sector.html
This article relates that property transactions in Beijing appear to be worse than they are here... hit a record low of 72% down year-on-year, in Beijing, which is usually the busiest time for housing sales. It says that property agencies are the worst hit during downward housing sales as most of real estate developers give their apartments to agencies to sell, and that it will take 1 - 2 years for the housing market to stabilize and develop again.
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